Page:United States Statutes at Large Volume 87.djvu/61

 87 STAT. ]

PUBLIC LAW 93-28-APR. 30, 1973

29

(except for matter excluded in accordance with paragraph (2)) so required which covers a period during which that business enterprise charges a price for a substantial product which exceeds by more than 1.5 per centum the price lawfully in effect for such product on January 10, 1973, or on the date twelve months preceding the end of such period, whichever is later. As used in this subsection, the term "Substantial •substantial product' means any single product or service which ^'^° "'^ ' accounted for 5 per centum or more of the gross sales or revenues of a business enterprise in its most recent full fiscal year. "(2) A business enterprise may exclude from any report made public pursuant to paragraph (1) any information or data reported to the Cost of Living Council, proprietary in nature, which concerns or relates to the amount or sources of its income, profits, losses, costs, oiexpenditures but may not exclude from such report, data, or information, so reported, which concerns or relates to its prices for goods and services. "(3) Immediately upon enactment of this subsection, the President or his delegate shall issue regulations defining for the purpose of this subsection what information or data are proprietary in nature and ' - ;.; therefore excludable under paragraph (2), except that such regula' " tions may not define as excludable any information or data which cannot currently be excluded from public annual reports to the Securities and Exchange Commission pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 by a business enterprise is use 78m, exclusively engaged in the manufacture or sale of a substantial product ^*^' as defined in paragraph (1). Such regulations shall define as excludable any information or data which concerns or relates to the trade secrets, processes, operations, style of work, or apparatus of the business enterprise." AGENCY HEARINGS

SEC. 7. Section 207(b) of the Economic Stabilization Act of 1970 is ^s stau ^74j^. amended by striking out the period at the end thereof and inserting note, the following in lieu thereof: ": Provided, That such agency shall issue no order which has the effect of reducing wages, or salaries m .j.,_- .. effect, or proposed to be put into effect, in an appropriate employee unit unless such order is made on the record after opportunity for a hearing. Not less than thirty days after issuance of such an order a statement of explanation shall be directed to the affected parties and made available to the public. Such statement shall include a full explanation of the reasons why the existing wage or salary, or pro,.,. posed wage or salary adjustment, does not meet the requirements of ' * or the standards established by the regulations prescribed by the agency." EXTENSION OF ACT

SEC. 8. Section 218 of the Economic Stabilization Act of 1970 is amended by striking out "April 30, 1973" and "May 1, 1973" and inserting in lieu thereof "April 30, 1974" and "May 1, 1974", respectively. Approved April 30, 1973.

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